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☆ Some of Trump's key cabinet picks provide clues to how his administration will approach the business world
▼ + stars: | 2024-11-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPresident-elect Donald Trump is quickly fleshing out his cabinet, giving a sense of what his second administration will look like. Now he's Trump's nominee for defense secretary. AdvertisementTreasury secretary — TBD: Trump's pick for his top economic advisor is being closely watched considering the key role the economy played in the election.

Persons: —, Donald Trump, Trump, JD Vance, Let's, — Matt Gaetz, Kevin McCarthy, Gaetz, he's, he'd, Mike Johnson, He's, State — Marco Rubio, Rubio, Pete Hegseth, Slaven Vlasic, Hegseth, Hegseth's, Scott Bessent, Howard Lutnick, Cantor Fitzgerald, Bessent, Lutnick, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Trump, Republicans, Senate, Department, Justice, State, Fox News, Getty, Defense, Army Locations: Florida, Silicon, China, Taiwan, Ukraine, Russia, Poland, Israel, New York, Chicago, London

☆ Rumored China real estate fund would have more impact than debt swaps
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's debt swap plans won't help much, rumored real estate fund would have a greater impactVincent Chan of Aletheia Capital says that China's planned local government debt conversion is too small from a stimulus point of view, rather the rumored 4 trillion RMB fund to purchase unsold property inventory could help boost confidence in the real estate sector.

Persons: Vincent Chan, China's Organizations: Aletheia

☆ These big shipyards are China's shipbuilding power players and are cranking out new warships at a breakneck pace
▼ + stars: | 2024-09-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewIt is no secret that China's shipbuilding capacity is unmatched on the world stage and that its shipyards are churning out new warships at a breakneck pace. China's shipbuilding industry has over 230 times the capacity of the US, according to recent estimates from the Office of Naval Intelligence, representing about 50% of the total global shipbuilding capacity. The shipyards building China's navyDalian is another significant Chinese shipyard and was site of production for the CNS Shandong aircraft carrier. The China Power Project at CSIS has carefully documented developments in Chinese shipbuilding, including work at the yards and new vessels. That push in military shipbuilding is propelled by China's political motivations and blue-water navy goals.

Persons: —, Brian Hart, Matthew Funaoile, It's, it's, Funaoile, Hart, Xi Jinping Organizations: Service, Business, of Naval Intelligence, Jiangnan Shipyard, Liberation Army's, Pentagon, US, PLAN, Shandong, China State Shipbuilding Corporation, Fujian, Wuchang Shipyard, Fujian Maritime Safety, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, CSIS, Airbus, Getty, Communist Party, PLA Locations: Dalian, China, Huangpu Wenchong, Hong Kong, Jiangnan, Hudong, Shanghai, Bohai, Wuchang, Wuhan, Taiwan, Fujian, Zhonghua

☆ China's plan to boost consumption by encouraging trade-ins has yet to show results
▼ + stars: | 2024-09-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

A banner plays up China's trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024. Nurphoto | Nurphoto | Getty ImagesBEIJING — China's plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC. Analysts are not overly optimistic about the extent to which the trade-in program could support retail sales. China's retail sales for August are due Saturday morning. Retail sales in June rose by 2%, the slowest since the Covid-19 pandemic, while July sales growth saw a modest improvement at 2.7%.

Persons: Jens Eskelund, Tao Wang, Sally Loh, Otis, Kone, We've, Ilkka Hara, Hara Organizations: Nurphoto, Getty, BEIJING, CNBC, EU Chamber of Commerce, UBS Investment Bank, China, U.S, Otis Locations: Qingdao, Shandong province, China, Greater China

☆ Japan warns of rising tensions over China's military drills near Taiwan
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +2 min

Anti-aircraft artilleries at a military parade to mark the 70th anniversary of the end of World War II on Sept. 3, 2015 in Beijing, China. "Because of that increase in military activity we cannot discount the possibility of heightened tensions," Japan said for the first time in its annual Defense White Paper. With its westernmost island only 68 miles from Taiwan, Japan hosts more than 50,000 American troops, hundreds of U.S. military aircraft, and an aircraft carrier strike group that Washington could deploy to defend Taiwan. Japan's 548-page assessment also highlighted China's plans to double its nuclear arsenal to more than 1,000 warheads by 2030. It mentioned attempts by neighboring North Korea to boost its nuclear strike capability with surveillance satellites and new, more advanced missiles, some with sufficient range to strike the United States.

Persons: Vladimir Putin, Kim Jong Organizations: NATO, Taiwan, North Locations: Beijing, China, Japan, Taiwan, readying, North Korea, Russia, U.S, Washington, Ukraine, Europe, United States, Moscow, Pyongyang

☆ China says it picked up a submarine detector dropped by a US Navy aircraft in the South China Sea
▼ + stars: | 2024-06-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

Chinese state media shared a video of what it characterized as a submarine detection device dropped by a US Navy aircraft. The apparent sonobuoy was discovered in the South China Sea near the Second Thomas Shoal. AdvertisementChina's coast guard found a submarine detection device dropped by a US Navy aircraft somewhere in the South China Sea, a state broadcaster reported. Maritime patrol aircraft often use them and other detectors in open waters to track submarine movements and locations. Video footage shared by Chinese state media on Wednesday showed a US Navy aircraft, what appears to be a P-8 Poseidon, dropping an object resembling a sonobuoy into the South China Sea.

Persons: Thomas Shoal, — Organizations: US Navy, Military, Service, Business Locations: South China, China

☆ Inside China's plan for AI: shape reality and enforce its power
▼ + stars: | 2024-06-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at China's strict approach to overseeing its AI development and the threat it poses to the world. The country's history of censorship and surveillance is extending to its approach to AI , writes Business Insider's Linette Lopez. AdvertisementThe CCP's plan for AI is about shaping reality and enforcing its power, according to internal documents. What to do ahead of May's jobs report. Permabull Tom Lee said it's a great time to buy stocks — shocking — with a new jobs report set to drop on Friday.

Persons: —, Kiran Ridley, Stringer, Getty, Tyler Le, Insider's Linette Lopez, Linette, chatbots, Jinping, Xie Huanchi, we've, Ken Griffin's, Permabull Tom Lee, it's, Stocks, Keith Gill, It's, Amazon's, Alyssa Powell, boomer, Gen, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett, Annie Smith Organizations: Service, Harvard, Business, Chinese Communist Party, of, People, Getty, Citadel Securities, BI, GameStop, Cloud, Prime, Apple, American Express, Research, Boomers Locations: China, Beijing, Xinhua, New York, London, Chicago

☆ China, Xi Jinping's Plan for AI Will Wreak Havoc on the World Economy
▼ + stars: | 2024-06-02 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

According to the CCP's plan, by 2020, China was supposed to have "achieved iconic advances in AI models and methods, core devices, high-end equipment, and foundational software." Censorship requirements may slow China's AI development and limit the commercialization of domestic models, but they will not stop Beijing from benefiting from AI where it sees fit. We're not seeing a huge gap between the models Chinese companies have been able to roll out. The current price war is a race to the bottom, similar to what we've seen in the Chinese technology space before. A race to the bottom may simply beggar China's AI ecosystem.

Persons: Xi Jinping, China doesn't, there's, Beijing's, Reva Goujon, We're, It's, ChatGPT, Xie Huanchi, couldn't, you'll, —, Kenneth DeWoskin, it's, Matt Sheehan, they're, chatbot, Sheehan, Ernie Bot, There's, Alibaba, ByteDance's, Paul Triolo, Albright, we've, haven't, DeWoskin, Sam Altman, Elon Musk Organizations: Chinese Communist Party, CCP, Intelligence, Cyberspace Administration, Getty, Freedom, University of Michigan, Deloitte, CAC, Carnegie Endowment, International Peace, Baidu, Bloomberg, Companies, Brookings Institution, Beijing, The Commerce Department Locations: China, Beijing, China's, Hong Kong, Xinhua, , Washington, Brussels, Berlin, Taiwan, US, Xinjiang

☆ Oil prices rise on U.S. inventories drawdown expectations, CPI focus
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

U.S. crude oil inventories fell 3.104 million barrels in the week ended May 10, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.269 million barrels and distillates rose by 673,000 barrels. "Expectations of another drawdown in U.S. oil inventories should support oil prices," ANZ Research said in a note. Oil prices also found support from a softer U.S. dollar and stimulus measures from China, said independent market analyst Tina Teng, with a weaker greenback making dollar-denominated oil cheaper for investors holding other currencies. "The U.S. CPI and China's economic data are key to driving oil prices for the rest of the week," she added.

Persons: David Knox, Petra Nova, Brent, Tina Teng, Teng Organizations: NGR Energy, JX Nippon Oil & Gas Exploration Corporation, WA Parish, U.S, . West Texas, American Petroleum Institute, ANZ Research, Federal, CPI Locations: NGR, Bend County, Petra, WA, China, Fort McMurray

☆ China's hype video for its lunar base showed what looked like a NASA Space Shuttle lifting off, which it then realized and tried to fix
▼ + stars: | 2024-05-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

China's new teaser for its lunar base appeared to show a NASA Space Shuttle taking off. The Space Shuttle was later blurred out in a state media version of the CGI video. AdvertisementA new concept video showcasing China's planned lunar base appeared to feature a NASA Space Shuttle lifting off from the facility — a detail that was then omitted in a later broadcast of the clip. Related storiesIt's unclear if showing a Space Shuttle was intended by China's space administration, but the spacecraft using a Chinese base in 2045 would be nearly impossible. Beijing says it plans for its international lunar base to be built jointly by other countries as a collaborative effort.

Persons: —, CNSA, It's, Artemis Organizations: NASA Space Shuttle, Shuttle, Service, China National Space Administration, Research, American, NASA, Space, Orbiter, Getty, Orion Spacecraft, Elon, SpaceX, International Space, Space Shuttle, Business Insider Locations: China, Beijing

☆ China launched a probe to the far side of the moon, stepping up its space race with the US
▼ + stars: | 2024-05-03 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +2 min

China launched the Chang'e-6 probe to collect samples from the far side of the moon. AdvertisementChina on Friday launched a probe to collect samples from the far side of the moon, as it stepped up its space race against the US. The Chang'e-6 probe successfully lifted off from China's Wenchang Space Launch Center at 5.37 a.m. It will collect around two kilograms of lunar samples from the far side of the moon for analysis. "People want to know why this happened," Yi Xu, a professor at the Space Science Institute of Macau University of Science and Technology and a member of the Chang'e-6 science team told The New York Times.

Persons: —, maria, Yi Xu Organizations: Service, US, NASA, Space Science Institute of Macau University of Science, Technology, New York Times Locations: China

☆ China's plan to be the dominant power in space is moving at breathtaking speed. The US needs to wake up, officials say.
▼ + stars: | 2024-04-30 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAfter a meeting with Japanese and South Korean officials in Tokyo on Friday, US Space Force commander Gen. Stephen Whiting warned about a growing threat. China, he said, is "moving at breathtaking speed in space," and is developing a range of weapons that threaten America's space supremacy, reported Stars and Stripes. "For the first time in decades, US leadership in space and space technology is being challenged," Meink added. Chance Saltzman, Chief of Space Operations at United States Space Force, last year warned against taking US space supremacy for granted. Air Force Lieutenant General Gregory Guillot (L) and US Space Force Lieutenant General Stephen Whiting (R) on July 26, 2023.

Persons: —, Stephen Whiting, They're, Troy Meink, Space.com, Meink, Chance Saltzman, I'm, Saltzman, Whiting, Dominic Chiu, Gregory Guillot, BRENDAN SMIALOWSKI, Donald Trump, Chiu, Artemis, Frank Lucas, Anthony Mastalir, Graeme Thompson, Thompson, Tory Bruno, Arthur Herman, John F, Kennedy, Ronald Reagan, we've Organizations: Service, Korean, Space Force, Business, National Reconnaissance Office, Space Operations, United States Space Force, Eurasia Group, Air Force, US Space Force, House Science, Technology Committee, Brig, US Space Forces, Pentagon, United Launch Alliance, NBC News, Hudson Institute Locations: Tokyo, China, Colorado, Australia, Russia

☆ China's plan for reinvigorating its economy has the West worried, but others still see an opportunity
▼ + stars: | 2024-04-08 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how China's plan for reinvigorating its economy has the rest of the world worried . The country is overproducing goods and then flooding global markets with them to save its struggling economy, writes Business Insider's Huileng Tan. Decades ago, as the country opened up its economy, China underwent rapid industrialization, allowing it to produce cheap goods. AdvertisementUS Treasury Secretary Janet Yellen has already warned China shock 2.0 could destabilize the global economy, specifically impacting green-energy exports . He pointed to China's GDP growth outpacing the US when the numbers are adjusted for disinflation and inflation in each country, respectively.

Persons: —, Chelsea Jia Feng, Huileng Tan, Huileng, China's, Janet Yellen, Tyler Le, Ray Dalio, that's, it's, Dalio's, Nicholas R, Lardy, Donald Trump, M, There's, Angus Deaton, Walter Huang, Sevonne Huang, Justin Sullivan, Alyssa Powell, Tesla, Hubspot, Mikel Jaso, Zers, That's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, West, New York Federal Reserve, Bridgewater Associates, Getty, Apple, Reuters, Google, McKinsey Locations: China, Glendale, Ariz, New York, London, Chicago

The work report presented Tuesday by Premier Li Qiang to the National People’s Congress outlined plans for modest increases in overall spending and a hefty 7.2% jump in funding for the military. Li's work report is designed to showcase for the nation achievements in the past year and convey the top leadership's priorities for this year. Photos You Should See View All 60 ImagesApart from the ambitious growth target, “There is no reform, no liberalization, no action plan and no messaging of reassurance,” he said. — Another 10.4 billion yuan ($1.4 billion) will go to upgrading industries and modernizing manufacturing. “We will work to build China's self-reliance and strength in science and technology,” the report said.

Persons: it’s, Premier Li Qiang, Li, Xi Jinping's, James Zimmerman, ”, Tianchen Xu, What's, —, Xu, ” Lynn Song Organizations: BEIJING, Premier, National People’s, Communist, American Chamber of Commerce, Economist Intelligence Unit, Baidu, Greater China, ING Economics, — Locations: China, Beijing, Washington, Hong Kong, Greater

☆ Chinese hackers are preparing to 'wreak havoc' on US electrical grids, water treatment plants, and oil and gas pipelines: FBI director
▼ + stars: | 2024-02-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Read previewFBI Director Christopher Wray warned that Chinese hackers are targeting critical US infrastructure in a bid to potentially "wreak havoc" on the lives of ordinary Americans in testimony to Congress. Speaking to the House Select Committee on the Chinese Communist Party on Wednesday, Wray said that China is seeking to infiltrate electrical grids, water treatment plants, oil and gas networks, and transport systems. AdvertisementWray's testimony comes after the Justice Department announced that it had disrupted a group of Chinese hackers who infiltrated old routers belonging to private citizens and small businesses. The sole purpose is to be ready to destroy American infrastructure, which would inevitably result in chaos, confusion, and potentially mass casualties." The House select committee Wray testified to was created to counter the intensified threat posed by China, a rare example of bipartisan consensus amid Washington's stark partisan divides.

Persons: —, Christopher Wray, Wray, They're, Joe Biden, Xi Jinping, Mike Gallagher Organizations: Service, Chinese Communist Party, Business, Justice Department, FBI, CNN Locations: China, San Francisco, Taiwan, Ukraine, South China, Wisconsin

FBI Director Christopher Wray on Wednesday warned Congress about a range of threats against the U.S., from Chinese hackers to heightened terrorist risks after the Oct. 7 attack on Israel. The FBI director has long warned about the Chinese government’s hacking capabilities. Cyberattacks and disinformation warfare can work in tandem, Wray warned. He also noted that AI can enhance foreign adversaries abilities to collect personal data and feed it into disinformation and influence operations. Heightened Terrorist Risk“We are, since Oct. 7, in a heightened threat environment from various forms of terrorist risk,” Wray warned, alluding to Hamas’ attack on Israel last year.

Persons: Christopher Wray, ” Wray, ” TikTok, Wray, ”, “ Organizations: Wednesday, U.S, Chinese Communist Party, FBI, Intelligence Locations: Israel, U.S, China, PRC, Iran

☆ China's plan to seize on global chaos and supplant the US may be working
▼ + stars: | 2023-11-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +8 min

China's Xi Jinping and President Joe Biden are meeting in San Francisco at the APEC summit. AdvertisementPresident Joe Biden seems keen to ease tensions with his main global rival, China's leader Xi Jinping, against a backdrop of global chaos and conflict. Russia's President Vladimir Putin and Chinese President Xi Jinping pose with heads of delegations participating in the Third Belt and Road Forum in Beijing on October 18, 2023. Sun, the Stimson Center expert, said Xi will be seeking to use the meeting to burnish his image as a global statesman and head off China's economic woes. But whatever agreements Xi brokers with the US president it's unlikely to change his core mission: Chinese global dominance.

Persons: China's Xi Jinping, Joe Biden, —, Xi Jinping, SERGEI, Jonathan Ward, Vladimir Putin, Biden, Xi, Putin, GRIGORY SYSOYEV, Ward, Yun Sun, Jeremy Chan, SAUL LOEB, Xi's, it's Organizations: APEC, Service, Economic Cooperation, Getty Images, Atlas Group, Russia's, Forum, Stimson Center, Eurasia Group, Getty Locations: San Francisco, China, Ukraine, Asia, East, Russia, Iran, Getty Images China, Beijing, Gaza, Israel, Palestine, Europe, Ethiopia, Argentina, Nusa Dua, Bali, Taiwan

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ Philippines denounces China for 'dangerous and offensive' actions in South China Sea
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A Chinese navy ship is seen sailing in the South China Sea, October 4, 2023. REUTERS/Adrian Portugal/File Photo Acquire Licensing RightsMANILA, Oct 16 (Reuters) - The Philippine military has called out China to stop "unsafe actions" in the South China Sea, after a Chinese navy ship shadowed and attempted to cut off a Philippine navy vessel conducting a resupply mission late last week. A Chinese People's Liberation Army Navy (PLAN) vessel came as close as 350 yards as it tried to cross in front of the Philippine ship near Thitu island, Manila's biggest and most strategically important outpost in the South China Sea, according to armed forces chief Romeo Brawner. It was the latest in a series of attempts by China to monitor and block Philippine resupply missions to personnel in Manila-occupied features in the Philippines' exclusive economic zone in the South China Sea. China's claims sovereignty to almost the entire South China Sea, through which more than $3 trillion of trade passes each year.

Persons: Adrian Portugal, Romeo Brawner, Brawner, Ferdinand Marcos, Neil Jerome Morales, Gerry Doyle Organizations: REUTERS, Rights, Philippine, Liberation Army Navy, PLAN, China's PLAN, Washington, Thomson Locations: South China, Rights MANILA, China, Philippine, Thitu, Manila, Philippines, Beijing

☆ China targets 50% boost in computing power as AI race with U.S. ramps up
▼ + stars: | 2023-10-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

That would be up from the 197 exaflop computing power the country currently has. For context, one exaflop is equivalent to the computing power of two million mainstream laptop computers, according to Counterpoint Research. The Chinese ministries said that the increased computing power will be required to support applications in industries including finance and education. "China aims to invest in growing in its computing power especially the AI, as it sees its major cloud providers launching AI solutions en masse for consumers and enterprises," Bassi said. Many AI applications currently are sold via cloud computing services, such as those offered by Chinese giants like Alibaba and Tencent .

Persons: Akshara Bassi, Bassi Organizations: U.S, Research, CNBC Locations: China

☆ Yum China says tech investments let it open more stores without needing more staff
▼ + stars: | 2023-09-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Pedestrians walk past a Pizza Hut restaurant and a KFC restaurant, both operated by Yum China, in Beijing, China, on Sept. 5, 2020. Bloomberg | Bloomberg | Getty ImagesBEIJING — Yum China is spending more on tech, an investment that's allowed it to open more stores without having to hire more staff, CEO Joey Wat told CNBC in an interview Friday. Yum China operates KFC and Pizza Hut stores in China, among other brands. With technology, she said staff can be promoted to manage multiple stores and support the opening of new locations. This year alone, the company plans to spend about $700 million to $900 million.

Persons: Joey Wat, Wat Organizations: KFC, Yum, Bloomberg, Getty, CNBC, Yum China, U.S, Companies, Walmart Locations: Yum China, Beijing, China, BEIJING, Yum, Alibaba

☆ Column: China's shrewd grab for green energy recycling dominance
▼ + stars: | 2023-08-18 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

Wind turbines and solar panels are seen at a wind and solar energy storage and transmission power station from State Grid Corporation of China, in Zhangjiakou of Hebei province, China, March 18, 2016. GLOBAL REACH WITH BACKHAUL POTENTIALChina's recyclers also have strong international supply lines thanks to the country's vast export-oriented manufacturing sector and resulting dominance in global shipping container trade. ECO-FRIENDLY ECOSYSTEMSChina's plan to develop a large scale recycling sector for the renewables industry is in keeping with the country's practice of developing interdependent ecosystems around key industries. The country aims to develop similar strongholds in auto and electronics manufacturing, and may now extend that framework to the renewables energy sector, which Beijing has identified as a key industry for the remainder of this century. For recycling firms based elsewhere that had been planning to scale up their handling of older green energy equipment, the prospect of a government-backed competitor in China may be a cause for concern.

Persons: Jason Lee, recyclers, China's, Gavin Maguire, Jamie Freed Organizations: Grid Corporation of, REUTERS, Reuters, Thomson Locations: Grid Corporation of China, Zhangjiakou, Hebei province, China, LITTLETON , Colorado, United States, Asia, Beijing

☆ Focus: In Mexico, private cash races to plug nearshoring energy crunch
▼ + stars: | 2023-07-26 | by ( Isabel Woodford | Thomson Reuters | Isabel Is A British-Spanish Journalist Based In Mexico City. She Joined Reuters In As Part Of The Latin America News Hub | ) www.reuters.com time to read: +7 min

Sergio Arguelles, president of the Mexican Association of Private Industrial Parks (AMPIP), said parks' investment in state energy assets today is unprecedented. "Mexico would be very well positioned to take advantage of nearshoring if it didn't have such an energy problem," he said. THE SHRINKING STATEMexico's approach to its groaning electricity grid is in contrast to its fast-growing peers, which tend to either incentivize private energy contractors or have state utility companies with deep pockets. Still, there is some hope for the new wave of 47 planned industrial parks. Yet critics say Mexico's push for state control over energy distribution while also neglecting it is self-sabotage.

Persons: Daniel Becerril, Sergio Bermudez, Barbie, Mattel, Bermudez, …, Eduardo Martinez, Sergio Arguelles, Aaron Gallo, Gallo, Andres Manuel Lopez Obrador's, David Gantz, Electrobras, AMPIP's Arguelles, Lopez Obrador, Ramses Pech, Hans Joachim Kohlsdorf, Zonia Torres, Alfredo Nolasco, Isabel Woodford, Marguerita Choy Organizations: Federal Electricity Commission, REUTERS, MEXICO CITY, Unilever, Mexican Association of Private Industrial Parks, American Industries, Industries, CFE, U.S, Baker Institute, Thomson Locations: Mexico's, Santa Catarina, Monterrey, Mexico, MEXICO, Nuevo Leon, Brazil, Guanajuato

☆ Key takeaways from China's politburo meeting on the economy
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +3 min

July 26 (Reuters) - China pledged to step up stimulus measures as the economy faces what it described as "new" difficulties and a "tortuous" recovery, following a meeting of the powerful politburo of the ruling Communist Party this week. Below are the key takeaways from the official readout of the meeting on the direction China's economic policy will take in the second half of 2023, which left many issues unaddressed. PROPERTYThe politburo removed a key phrase from the readout of its meeting in April, that cited President Xi Jinping as saying "houses are for living, not for speculation," sparking a rally in the shares of battered property firms. While markets are expecting further easing of property market regulations to slow the giant sector's downturn, the politburo flagged a "city-based" approach rather than nationwide changes. HOUSEHOLD CONSUMPTIONThe politburo reiterated it wants to turn it into a key driver of growth.

Persons: Xi Jinping, meeting's, Marius Zaharia, Lincoln Organizations: Communist Party, Investors, Beijing bailouts, Thomson Locations: China, Beijing

☆ China's dream of a smooth post-pandemic economic recovery has already turned into a nightmare
▼ + stars: | 2023-07-13 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Beijing finally curtailed three years of harsh zero-COVID lockdowns late last year, but its economy has subsequently run into significant turbulence that's sparking alarm across the world. In July 2022, the government was still taking a zero-tolerance approach to COVID-19, limiting the country's economic output. Foreign direct investment in China has also dried up, with spending from outside China dropping by $20 billion, or a sixth, year-on-year, per data from the Wall Street Journal. It's a growing list of concerns that makes grim reading for Beijing, whose dreams of a smooth revival have quickly turned nightmarish.

Persons: lockdowns, they'll Organizations: Service, country's, Wall Street, Beijing Locations: Wall, Silicon, Beijing, China

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